Summary
For the fiscal year ended July 31, 2017, Intuit Inc. reported a total net revenue of $5.2 billion, representing a 10% increase compared to the previous year. The company experienced robust growth in its Small Business segment, driven by a 30% increase in its Online Ecosystem revenue, and a notable 9% increase in its Consumer Tax segment, attributed to unit growth and a favorable product mix. The ProConnect segment saw a modest 2% revenue increase. This growth translated into a 20% increase in net income from continuing operations and a 22% rise in diluted earnings per share. Intuit continues its strategic shift towards connected services, which generated 73% of its total revenue in fiscal 2017, indicating a successful transition from traditional desktop software. The company maintained a strong financial position, with cash, cash equivalents, and investments totaling $777 million at the end of the fiscal year. Intuit also actively returned capital to shareholders through share repurchases and dividends, with $1.5 billion remaining under its authorized repurchase program. Investments in research and development remained significant at 19% of total net revenue, underscoring the company's commitment to innovation in a rapidly evolving technological landscape.
Financial Highlights
58 data points| Revenue | $5.20B |
| Cost of Revenue | $120.00M |
| Gross Profit | $5.08B |
| R&D Expenses | $998.00M |
| Operating Expenses | $3.78B |
| Operating Income | $1.42B |
| Interest Expense | $31.00M |
| Net Income | $985.00M |
| EPS (Basic) | $3.83 |
| EPS (Diluted) | $3.78 |
| Shares Outstanding (Basic) | 257.00M |
| Shares Outstanding (Diluted) | 261.00M |
Key Highlights
- 1Total net revenue increased by 10% to $5.2 billion for the fiscal year ended July 31, 2017.
- 2The Small Business segment revenue grew by 13%, with a 30% increase in the Online Ecosystem driving this growth.
- 3Consumer Tax segment revenue increased by 9%, supported by unit growth and a shift towards higher-end products.
- 4Net income from continuing operations rose by 20% to $971 million.
- 5Diluted earnings per share from continuing operations increased by 22% to $3.72.
- 6Connected services represented 73% of total revenue, highlighting Intuit's focus on its ecosystem.
- 7The company reported $777 million in cash, cash equivalents, and investments at year-end, with significant capital available for repurchases and dividends.